Cereal Giant General Mills' Cautious Outlook Offers Little Crunch, Stock Falls

Cereal Giant General Mills, Inc. (NYSE:GIS) shares dipped in premarket trading Wednesday after the company posted mixed fourth-quarter results and issued a cautious full-year outlook.

The global packaged food company registered quarterly adjusted earnings per share of 74 cents, beating the analyst consensus estimate of 71 cents. Quarterly sales of $4.56 billion (down 3% year over year) missed the Street view of $4.59 billion.

Organic net sales fell 3%, as expected, including a 2-point hit from unfavorable trade expense timing.

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Quarterly net sales for General Mills’ North America Retail segment were down 10% to $2.6 billion, North America Pet segment were up 12% to $675 million, North America Food service segment were down 2% to $579 million, and International segment were up ...